Adani’s Wealth Rises By 109% In 1 Yr, India Ranks 3rd In The Number Of Billionaires: Report

The Logical Indian Crew

March 2nd, 2018

Image Credits: Jansatta

The Shanghai-based Hurun Global Rich List, 2018 has listed about 2,694 billionaires from 68 countries and 2,157 countries. The total wealth has increased by a record-breaking 31% to $10.5 trillion, which is equal to 13.2% of global GDP. The top spot on the list is taken by Jeff Bezos who is the CEO of Amazon. India has reclaimed the third position in the list. India has added 31 billionaires to the list, taking the tally to 131.


Record-breaking year for billionaires

India, China and the United States have two or more cities in top 30. The maximum number of billionaires are from China. Two years ago, there was a close competition between the US and China with the numbers standing at 534 and 535, respectively. This year however China has surged much ahead of US, with 819 billionaires as compared to 571 billionaires from US.

Jeff Bezos of Amazon is the richest man in the world, he is followed by Warren Buffett of Berkshire Hathaway and Bill Gates at the second and third position respectively.


Jeff BezosDaily Post

19 new billionaires made it to the global to top 100 led by Francoise Bettencourt-Meyers of L’Oreal who inherited the wealth from her mother Liliane, who died in September last year, aged 94.

The report also stated that more than one billionaire was created every day last year, out of which 4 per week were from China.


India retains the third spot

The year has been great for billionaires of India. The number of billionaires in the country has increased from 100 to 131. However, if Indian-origin billionaires are also considered, the number grows 170.

The combined wealth of Indian billionaires has increased by 49% to US $454 billion.

The report revealed that in India, 19 billionaires belonged to the pharmaceutical sector, which was the highest. It was followed by Automobile and Components sector to which 14 billionaires belonged and 11 billionaires belonged to the consumer products sector.

Mumbai is the most preferred destination for Indian billionaires which is followed by New Delhi.

Gautam Adani, the founder and chairman of Adani Group, has seen massive growth in his fortunes. His wealth is reportedly US $14 billion (approx Rs 91,245 crore as per current value). His fortunes have seen a 109% growth in the last year. He occupies the 98th spot in the list.

The richest Indian man is still the 60-year old chairman and Managing Director of Reliance Industries Limited, Mukesh Ambani. His overall wealth is US $45 billion. He is currently the 19th richest man in the world.

Savitri Jindal, a minister in the Haryana Government ranked 149 in the list. She has fortunes worth of $11 billion.

A survey released in January this year, reported the huge gap between the rich and poor in India with its richest 1% bagging 73% of the country’s wealth. As per the survey released by Oxfam, an international rights group, 67 crore Indians comprising the countries poorest population have their wealth rise by just 1%.

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